Disrupted Healthcare – Global Deals and Investments – 30 Transactions This Week

VC Deals (19 deals, $391M)

eGym, a Munich-based provider of cloud-connected gym equipment and related apps, has raised $45 million in Series C funding. HPE Growth Capital led the round, and was joined by return backers like Highland Europe

Atlantic Healthcare PLC, a UK-based pharma company focused on gastrointestinal disorders, has raised $24 million in new funding from LDC, Fullbrook Thorpe Investments (family office of Clinigen Group founder Andy Leaver) and the founders of Salix Pharmaceuticals

Sillajen, a South Korea-based oncolytic immunotherapeutic startup, has raised $12 million in VC funding from Mediavate Partners #asia

Acutus Medical, a Carlsbad, Calif.-based provider of electrophysiology solutions, has raised $75 million in Series C funding. Deerfield Managementand Xeraya Capital were joined by return backers GE Ventures, OrbiMed Advisors and Advent Life Sciences

Aerin Medical Inc., a Sunnyvale, Calif.-based medical device company focused on nasal breathing disorders, has raised $16.7 million in Series C funding from backers like Targeted Technology Fund and KCK Group

Syntimmune Inc., a New York-based developer of treatments for IgG-mediated autoimmune diseases, has secured a clinical milestone-based $10 million tranche of its $26 million Series A round co-led by Apple Tree Partners and Baxalta Ventures

Adarza BioSystems Inc., a Rochester, N.Y.-based developer of label-free multiplex assays, has raised $5 million in Series B funding. Backers include Cultivation Capital, Lewis and Clark Ventures and Siemens Venture Capital

Medical Departures, a Thailand-based medical services marketplace for those seeking cross-border treatments and procedures, has raised $2.5 million in Series A funding. DMP led the round, and was joined by Hubert Burda Media, CyberAgent Ventures and OPT SEA #healthtechasia

Quanterix Corp., a Lexington, Mass.-based developer of ultra-sensitive single molecule testing capabilities, has raised $46 million in Series D funding. Trinitas Capital, Cormorant Asset Management and Arch Overage Fund co-led the round, and were joined by return backers ARCH Venture Partners, Bain Capital Ventures, Tufts University and Dr. David Walt. Hercules Capital also participated

Science Exchange, a Palo Alto, Calif.-based scientific research marketplace, has raised $25 million in Series B funding. Maverick Capital led the round, and was joined by Union Square Ventures, Index Ventures, OATV, Collaborative Fund, YC Continuity Fund and individual angels

Bivarus, a Durham, N.C.-based developer of patient experience analytics, has raised $2 million in new VC funding. Hatteras Venture Partners and return backer Excelerate Health Ventures co-led the round, and were joined by NueCura Partners and Boston Millennia Partners

Iterum Therapeutics Ltd., an Ireland-based developer of anti-infectives, has been formed via $40 million in Series A funding. Frazier Healthcare Ventures led the round, and was joined by Canaan Partners, Sofinnova Ventures and New Leaf Venture Partners

LifeBEAM, a New York-based developer of biosensor-enabled wearables, has raised $16 million in new VC funding. Squarepeg Capital led the round, and was joined by Wellborn VC, Cerca Partners, Atomic14 VC and Triventures VC

EndoStim Inc., a St. Louis-based maker of a neurostimulation device for treating gastroesophageal reflux disease, has raised $11 million of a new VC funding round that could total $20 million, according to a regulatory filing. Last December the company withdrew registration for a $35 million IPO that it filed for in September 2014 due to “market conditions.” Shareholders include Sante Ventures (35.4% stake per IPO filings) and Prolog Capital (5.7%)

Maxwell Health, a 3.5-year-old, Boston-based employee benefits tech platform, has raised $22 million in new funding from GIS Strategic Ventures, an investing arm of The Guardian Life Insurance Company of America; Sun Life Financial; and Cendana Capital. Previous backers also contributed, includingAdams Street Partners, Cambia Health Solutions, Catalyst Health Ventures, Industry Ventures, Lerer Hippeau Ventures,Schooner Capital,Tribeca Venture Partners, and Vaizra Investments

India Healthcare startup LifCare raises $1m in round led by angel investor Rajul Garg. The company delivers medicines to subscribed customers. #healthtechasia

Philadelphia-based accelerator Dreamit Health has announced the 15 health startups that will join its next accelerator class. As in previous years, the accelerator is sponsored by Penn Medicine and Independence Blue Cross, and medical device company Zimmer Biomet

UPMC Enterprises, the venture arm of University of Pittsburgh Medical Center has announced that it plans to invest in the first six health tech projects developed under The Pittsburgh Health Data Alliance, which is run by UPMC, University of Pittsburgh, and Carnegie Mellon University

Boston, Massachusetts-based employee benefits navigator company Maxwell Health raised $22 million from GIS Strategic Ventures, Sun Life Financial, and Cendana Capital as well as existing investors Adams Street Partners, Cambia Health Solutions, Catalyst Health Ventures, Industry Ventures, and more

PE Deals (5 deals)

Ancor Capital Partners has acquired DuvaSawko, an Ormond Beach, Fla.-based revenue cycle and practice management company for emergency physician groups and hospital-based emergency departments. No financial terms were disclosed. Yukon Partners supported the deal with an equity co-investment and mezzanine financing

CapVest Partners has completed its previously-announced acquisition of IBA Molecular, a France-based provider of radiopharmaceutical products and supporting services used in molecular imaging, from SK Capital. No financial terms were disclosed

 GI Partners has agreed to acquire Netsmart Technologies Inc., an Overland Park, Kansas-based healthcare IT company, from Genstar Capital. The deal is being done in partnership with Allscripts Healthcare Solutions (Nasdaq: MDRX), which will merge its homecare software group with Netsmart (creating a combined company with more than $250m in annual revenue). The deal is valued at around $950 million, of which $612 million is being financed via new leveraged loans

LakePharma Inc., a Belmont, Calif.-based provider of biologics contract research organization solutions, has acquired Blue Sky BioServices, a Worcester, Mass.-based CRO focused on protein and antibody production and assay services. No financial terms were disclosed, except that existing Blue Sky backer Ampersand Capital Partners made a new investment into LakeStar

Invo HealthCare Holdings, a Jamison, Penn.-based portfolio company ofPost Capital Partners, has acquiredProgressus Therapy LLC, a Tampa, Fla.-based provider of school-based therapy and early intervention services. No financial terms were disclosed. Sellers include Sterling Partners

IPO Deals (2 deals)

Corvus Pharmaceuticals Inc., a Burlingame, Calif.-based developer of immuno-oncology therapies, raised $71 million in its IPO. The pre-revenue company priced 4.7 million shares at $15 per share (low end of $15-$17 range), for an initial market cap of around $306 million. Corvus will trade on the Nasdaq under ticker symbol CRVS, while Credit Suisse and Cowen & Co. served as lead underwriters. Shareholders include OrbiMed Advisors (29.98% pre-IPO stake), Novo AS (15.84%), Adams Street Partners (15.84%) and Fidelity (8.18%)

Klox Technologies Inc., a Quebec-based drug company focused on developing treatments for skin and soft tissue disorders, has withdrawn registration for an IPO designed to have raised upwards of $72 million at an initial market cap of more than $350 million. UBS was serving as lead underwriter

Other Deals (4 deals)

Affymetrix (Nasdaq: AFFX), a Santa Clara, Calif.-based maker of molecular diagnostics equipment, has rejected a $1.5 billion takeover offer from a group of its former executives, saying it was “not superior” to an existing $1.3 billion deal to be acquired by Thermo Fisher Scientific(NYSE: TMO). The ex-executive group says that it remains committed to getting a deal done

Bio-Techne Corp. (Nasdaq: TECH) has acquired Zephyrus Biosciences, a Berkeley, Calif.-based developer of research tools to enable protein analysis at the single cell level. No financial terms were disclosed. Zephyrus had been seeded by such firms as Life Sciences Angels, Mission Bay Capital, The Angel Forum, BayBio Fast, 5 Prime Ventures and the Stanford StartX Fund

Bristol-Myers Squibb Co. (NYSE: BMY) has agreed to acquire Padlock Therapeutics Inc., a Cambridge, Mass.-based developer of medicines to treat autoimmune diseases. The deal is valued at upwards of $600 million, including $225 million in upfront and near-term contingent milestone payments. In late 2014, Padlock raised $23 million in Series A funding at an $8.3million pre-money valuation from Atlas Venture, Johnson & Johnson Innovation, MS Ventures, and Index Ventures

The Riverside Company has agreed to sell Diatron Group, a Budapest-based maker of compact hematology analyzers for the human medical and veterinary markets, to Germany’s Stratec Biomedical AG. No financial terms were disclosed

Sources: Term Sheet, Financial Times, StrictlyVC, TechinAsia, CrunchBase, TechCrunch, Bloomberg, MobiHealthNews

The Propell Group

#healthtech #asia